Delta Investment Management LLC Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Delta Investment Management LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 716 shares of the company’s stock after selling 92 shares during the quarter. Delta Investment Management LLC’s holdings in McKesson were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Citizens Financial Group Inc. RI boosted its holdings in McKesson by 26.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 950 shares of the company’s stock valued at $440,000 after purchasing an additional 196 shares during the period. Kovack Advisors Inc. boosted its holdings in McKesson by 96.1% in the 4th quarter. Kovack Advisors Inc. now owns 1,508 shares of the company’s stock valued at $698,000 after purchasing an additional 739 shares during the period. Bryn Mawr Capital Management LLC boosted its holdings in McKesson by 140.7% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 2,313 shares of the company’s stock valued at $1,071,000 after purchasing an additional 1,352 shares during the period. McClarren Financial Advisors Inc. bought a new position in McKesson in the 4th quarter valued at $172,000. Finally, Stanley Laman Group Ltd. boosted its holdings in McKesson by 0.9% in the 4th quarter. Stanley Laman Group Ltd. now owns 8,431 shares of the company’s stock valued at $3,903,000 after purchasing an additional 72 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MCK. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Citigroup lifted their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Mizuho lifted their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Stock Up 0.6 %

Shares of NYSE MCK traded up $3.36 during midday trading on Friday, hitting $543.30. The stock had a trading volume of 654,669 shares, compared to its average volume of 493,786. The business’s 50 day moving average is $528.15 and its 200-day moving average is $489.48. The company has a market cap of $71.40 billion, a P/E ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $544.81.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $6.90 earnings per share. As a group, analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is currently 11.24%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.